There are no regulations stating what information mortgage brokers have to tell you – it’s up to you to find out about their services and their background. Here are five questions you could ask:
How many lenders do you work with, and who are they?

The price for a home loan and all the features it offers comes in the form
of interest and fees. Some lenders provide details of these in their
brochures, and many give current charges on their websites.
These are the specific costs you need to check:

The
ideal mortgage contract has benefits for both sides: you get a loan to
match your needs at a competitive price, and the lender gets some
long-term business. Look at it as a deal where you can negotiate.
Knowing what you want

Alongside
the more popular lending types there are also some special types of
lending for people in different situations and stages of life.
'Low doc' or 'No doc' mortgages
Bridging finance and second mortgages
Equity release

There are dozens of companies providing
home loans. Choose a lender on the key areas of interest rates, fees
and services. Don't be swayed by prize draws or the like. However low
fees and a contribution to your legal costs are well worth taking
advantage of.

You’ll probably look at many places before
you find the home you want to buy. It’s a good idea to be just as
careful over choosing your mortgage, since the repayments over time
(interest and principal), could add up to a lot more than the cost of
the home.

The volume of house sales is slowing. Houses are taking longer to sell. And some apartment prices are falling. What if house prices are next to fall?
That would clearly be great news for those struggling to buy their first home.

Reserve Bank Governor Alan Bollard has been telling us off because we keep raising our mortgage debt. But, from the individual's point of view, how bad is that? It depends on why we borrow.
New Zealanders' mortgage debt rose a rapid 16 per cent in the year ending September.